Formed in 1979, RAF Industries is a privately-held, Philadelphia-based investment firm. RAF Industries acquires and operates a diversified group of middle market manufacturing companies located across the United States. Specific areas of interest include building and DIY products; products and services geared toward enhancing the lifestyle of the elderly population; and products and services provided to high-end consumers. The firm targets companies with pretax earnings of at least $4 million for platform acquisitions and at least $500,000 for add-on acquisitions. Transaction value ranges from $20 million to $200 million.